Common use of Trust Account; Distributions Clause in Contracts

Trust Account; Distributions. On or before the issuance of the Certificates, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Trust Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Trust Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Classes 5, 7, 11, 16, 17 and 18 and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Trust Fund Certificates or (iii) maintain the Trust Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Trust Account is maintained may at any time be changed without notice to, or the approval of, Holders of the Trust Fund Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Trust Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Trust Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Trust Account all distributions on Lower Tier Classes 5, 7, 11, 16, 17 and 18 received by it as Trustee of the Trust Fund hereunder. All distributions on Lower Tier Classes 5, 7, 11, 16, 17 and 18 deposited from time to time in the Trust Account, all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Trust Account as part of the Trust Fund as herein provided, subject to withdrawal by Xxxxxx Mae for the purposes set forth in Section 4.05.

Trust Account; Distributions. On or before the issuance of the Certificates, Xxxxxx Mae Xxx shall either (i) open with an Eligible Depository a Reserve Bank one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Trust Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Trust Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Classes 5, 7, 11, 16, 17 and 18 and all investments of any such amounts Underlying Securities as being held by it in its capacity as Trustee for the benefit of the Holders of the Trust Fund Certificates or (iii) maintain the Trust Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Trust Account is maintained may at any time be changed without notice to, or the approval of, Holders of the Trust Fund Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Trust Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Trust Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx Mae shall deposit in the Trust Account all distributions payments on Lower Tier Classes 5, 7, 11, 16, 17 and 18 the Underlying Securities received by it as Trustee of the Trust Fund hereunder. All distributions payments on Lower Tier Classes 5, 7, 11, 16, 17 and 18 the Underlying Securities deposited from time to time in the Trust Account, all investments made with such moneys, including all income or other gain from such investments, Account shall be held by the Trustee in the Trust Account as part of the Trust Fund as herein provided, subject to withdrawal by Xxxxxx Mae Xxx for the purposes set forth in Section 4.055.03.

Trust Account; Distributions. On or before the issuance of the Certificates, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Trust Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Trust Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Classes 5, 7, 11, 16, 17 and 18 Regular Interests and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Trust Fund Certificates or (iii) maintain the Trust Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Trust Account is maintained may at any time be changed without notice to, or the approval of, Holders of the Trust Fund Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Trust Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Trust Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Trust Account all distributions on the Lower Tier Classes 5, 7, 11, 16, 17 and 18 Regular Interests received by it as Trustee of the Trust Fund hereunder. All distributions on the Lower Tier Classes 5, 7, 11, 16, 17 and 18 Regular Interests deposited from time to time in the Trust Account, all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Trust Account as part of the Trust Fund as herein provided, subject to withdrawal by Xxxxxx Mae for the purposes set forth in Section 4.05.

Trust Account; Distributions. On or before the issuance of the Certificates, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Trust Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Trust Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Classes 5, 7, 11, 16, 17 REMIC Regular Interests and 18 any other assets of the Trust and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Trust Fund Certificates or (iii) maintain the Trust Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Trust Account is maintained may at any time be changed without notice to, or the approval of, Holders of the Trust Fund Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Trust Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Trust Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Trust Account (i) all distributions payments on Lower Tier Classes 5, 7, 11, 16, 17 and 18 the REMIC Regular Interests received by it as Trustee of the Trust Fund hereunderand (ii) all payments on any Xxxxxx Mae Debt Obligations in the Trust Fund received by it as Trustee of the Trust Fund. All distributions on Lower Tier Classes 5, 7, 11, 16, 17 and 18 such payments deposited from time to time in the Trust Account, Account and all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Trust Account as part of the Trust Fund as herein provided, subject to withdrawal by Xxxxxx Mae Xxx for the purposes set forth in Section 4.055.03 and to acquire Xxxxxx Mae Debt Obligations.